Financial News
Coronavirus tally: Global cases of COVID-19 reach 5.97 million, 365,796 deaths as Brazil suffers fresh spike in casesExternal Link

The global case tally for the coronavirus that causes COVID-19 climbed to 5.97 million on Saturday, according to data aggregated by Johns Hopkins University. The death toll rose to 365,796. More than 2.5 million people have recovered. The U.S. has the highest case toll in the world at 1.75 million and the highest death toll at 102,900. Brazil has 465,166 cases after another spike overnight, and 27,878 fatalities, while Russia has 396,575 cases and 4,555 fatalities. The U.K. has 272,615 cases and 38,243 deaths, the highest death toll in Europe and second highest in the world after the U.S. Spain has 238,564 cases and 27,121 deaths, while Italy has 232,248 cases and 33,229 deaths. France has 186,924 cases and 28,717 deaths, while Germany has 183,125 cases and 8,527 deaths. India has 175,957 cases and 4,996 deaths, followed by Turkey with 162,120 cases and 4,489 deaths. Iran has 148,950 cases and 7,734 deaths. Peru has 148,285 cases and 4,230 deaths. Canada is next with 90,910 cases and 7,063 deaths. That's followed by Chile, which now has 90,638 cases and 944 fatalities. Mexico has moved past China by case number with 84,627 confirmed cases and 9,415 deaths. China, where the disease was first reported late last year, has 84,126 cases and 4,638 deaths.

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Sat, 30 May 2020 15:46:52 GMT
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Moderna begins new COVID-19 vaccine studyExternal Link

Moderna Inc. announced Friday afternoon that the latest study of its potential COVID-19 vaccine has begun. The first participants in each age range have been dosed with its vaccine candidate, known as mRNA-1273, and will receive another dose 28 days later before being followed for 12 months to determine efficacy. The company intends to enroll 600 patients in the study across two age groups, 18 to 55 and older than 55. Moderna previously released limited details about its phase 1 trial of the vaccine, saying that it produced necessary antibodies in some subjects but neglecting to provide full datasets. Moderna stock shot more than 10% higher Friday, with most of those gains coming in the last hour of the session. Shares were largely quiet in after-hours trading, when the announcement was made.

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Fri, 29 May 2020 21:15:48 GMT
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Pfizer stock plunges 7% after breast cancer study haltedExternal Link

Pfizer Inc. shares fell 7% in after-hours trading Friday after the company reported that a study of a potential breast-cancer treatment was halted because it was unlikely to achieve its goal. Pfizer said that a phase 3 study of palbociclib, also known as Ibrance, which was ongoing in 400 centers spread across 21 countries, would not reach its intended change in survival rates. "This result is not what we hoped for, but we are steadfast in our commitment to advancing the science and care for people living with breast cancer," Chief Executive Albert Bourla said in the announcement. After closing a penny higher at $38.19, shares dove lower than $35.50 in extended trading following the announcement. Pfizer stock has fallen 2.5% so far this year, as the S&P 500 index has declined 6.2%.

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Fri, 29 May 2020 20:46:31 GMT
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Stock market ends higher Friday afternoon as Trump's measures against China seen not as stringent as fearedExternal Link

The S&P 500 and the Nasdaq pared losses and closed positive Friday afternoon after President Donald Trump took a number of measures in what he described as China violations, but fell short of taking any actions that might be perceived by investors as market negative. The Dow Jones Industrial Average ended the session off about 17 points, or less than 0.1%, to 25,383, the S&P 500 index gained 0.5% to end trade at about 3,044, while the Nasdaq Composite index advanced 1.3% to around 9.490. In a news conference in the White House's Rose Garden on Friday, Trump accused China of "continually" violating its "promises to us," but he did not mention ending a phase-one trade agreement or sanctioning China more directly in his comments. The president said he would Trump terminate the U.S.'s relationship with the World Health Organization, which he accuses of being heavily influenced by China. The president has continually blamed China's "malfeasance" for the spread of the novel strain of coronavirus associated with COVID-19.

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Fri, 29 May 2020 20:20:41 GMT
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Stocks erase early losses to end mixed as Trump refrains from tearing up U.S.-China trade dealExternal Link

Stocks reversed early losses to post a mixed finish Friday, capping a strong weekly and monthly performance, after President Donald Trump announced a series of measures aimed at punishing China over its treatment of Hong Kong but refrained from undermining the phase one trade deal reached earlier this year. The Dow Jones Industrial Average , which traded more than 300 points lower as Trump began his announcement, ended the day with a loss of around 18 points, or 0.1%, near 25,383, according to preliminary figures, while the S&P 500 rose around 15 points, or 0.5%, to close near 3,044. The Nasdaq Composite jumped 121 points, or 1.3%, to finish near 9,490. The Dow logged a weekly gain of 3.8% and rose 4.3% for May, while the S&P 500 saw a 3% weekly rise and a 4.5% monthly advance. The Nasdaq was up 1.8% for the week and 6.8% for May.

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Fri, 29 May 2020 20:03:55 GMT
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